HYDERABAD: The Hyderabad Disaster Response and Asset Monitoring and Protection Agency’s (HYDRAA) move to intensify its crackdown on illegal constructions within Full Tank Levels (FTL) and buffer zones, has led to a sharp decline in demand for lake-view flats, report city-based brokers. They share how prospective buyers are increasingly prioritising due diligence over aesthetics, asking for approval documents and FTL maps before committing.
“There’s a clear shift in the market,” said Ravi Kumar, a real estate broker operating in Miyapur. “Buyers are not just asking if the property is legal; they want proof. They ask for FTL maps, approval documents, and even municipal clearances before considering a site visit. This has increased so much that recently I received a request for the FTL and buffer zone maps from HYDRAA to give buyers the assurance,” Kumar added.
The caution stems from HYDRAA’s recent demolition drives targeting unauthorised constructions near water bodies. These actions have made buyers wary of potential legal and financial risks. “I loved the idea of waking up to a lake view, but not if it means bulldozing my investment later. In fact, we cancelled the flat we decided to buy. We already paid the token amount. But since there was a lake very near to our house, we decided not to go ahead with it,” said Priya Menon, a tech professional searching for a 2BHK flat in Hyderabad
Real estate developers are tweaking their marketing strategies to address these concerns. Many now prominently highlight the precise distance of their projects from restricted zones. Despite these efforts, brokers are reporting a notable drop in sales. “Lake-view properties, once a premium choice, are now a hard sell,” said Sunil Reddy, a broker from Kukatpally. “Even with discounts, buyers hesitate to finalise. We’ve seen a 30% dip in inquiries for lake-view flats in the past three months.”
For some buyers, extra scrutiny is essential. “The legal risks are too high to ignore,” said Arjun Sainath, an IT professional. “I check every document, including municipal clearances, before even visiting a property. And we are avoiding buying anything near a lake. We buy a house only once,” he added.
However, HYDRAA has clarified its stance on demolition. The HYDRAA commissioner A V Ranganath clarified that it will not demolish residential houses constructed without permission if they were completed and occupied by July 2024. “We will verify these details through Google Earth and on-site inspections. However, commercial and business buildings constructed without permits will be demolished, regardless of the construction date, if they fall within the FTL,” he said. “If permits were granted and subsequently revoked, the structures became illegal. Even if they are residential, if construction continues after July 2024, they will be considered illegal and demolished.”
Source Homevior.in
